Highlights of SBA’s Updated FAQs on the Paycheck Protection Loans

Highlights of SBA’s Updated FAQs on the Paycheck Protection Loans

On April 8, 2020 (and again on April 13 and 14, 2020), the Small Business Administration (SBA) issued new “Frequently Asked Questions” providing clarifications regarding various aspects of the Paycheck Protection Program (PPP) loans established through sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act). The…

Known Unknowns: Faith-Based Organizations and the CARES Act Loan Programs

Known Unknowns: Faith-Based Organizations and the CARES Act Loan Programs

April 2, 2020-See byline details at end of article—Bottom Line: The CARES Act contains two loan programs which could potentially impact faith-based organizations. As of this writing, there are significant unanswered questions about the impact acceptance of these funds would have on a recipient’s ability to pursue its mission and maintain its religious identity. We are…